Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Grande Group Limited Class A Ordinary Shares (GRAN)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$2.24 - $3.34$2.77
Multi-Stage$4.16 - $4.58$4.37
Blended Fair Value$3.57
Current Price$4.60
Upside-22.43%
DecisionDon't Buy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR202520242023
DPS0.00%0.00%0.060.000.000.000.000.000.000.000.000.00
YoY Growth--0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--1.36%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)3.42
(-) Cash Dividends Paid (M)0.77
(=) Cash Retained (M)2.65
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)0.680.430.26
Cash Retained (M)2.652.652.65
(-) Cash Required (M)-0.68-0.43-0.26
(=) Excess Retained (M)1.962.222.39
(/) Shares Outstanding (M)12.3412.3412.34
(=) Excess Retained per Share0.160.180.19
LTM Dividend per Share0.060.060.06
(+) Excess Retained per Share0.160.180.19
(=) Adjusted Dividend0.220.240.26
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate-2.00%-1.00%0.00%
Fair Value$2.24$2.77$3.34
Upside / Downside-51.20%-39.86%-27.41%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)3.423.383.353.323.283.253.35
Payout Ratio22.51%36.01%49.51%63.00%76.50%90.00%92.50%
Projected Dividends (M)0.771.221.662.092.512.923.10

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate7.67%7.67%7.67%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)1.121.131.14
Year 2 PV (M)1.401.431.46
Year 3 PV (M)1.621.671.72
Year 4 PV (M)1.791.871.95
Year 5 PV (M)1.922.022.13
PV of Terminal Value (M)43.5445.8048.16
Equity Value (M)51.4053.9356.56
Shares Outstanding (M)12.3412.3412.34
Fair Value$4.16$4.37$4.58
Upside / Downside-9.46%-5.00%-0.36%

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